@@RickyBobby213 no LLC this is my first property! I heard they won’t let you buy a house through an LLC until you have multiple assets. You can always move property into the umbrella company.
Started watching BiggerPockets over the weekend, and my husband and I are putting in our 1st offer tomorrow. It might not get accepted, but I'm so glad that we finally did something instead of just talking about it.
ABSOLUTELY. Just spent 1000$ on a wanna be seminar that asked me.to spend more money. 10K Tax lien code. Sales....sales....sales....u sales and more up sales
I work for the department of defense for the Navy and I have always been looking for financial freedom. I am 21 years old now and plan on doing extensive research and continue watching bigger pockets to achieve my financial goal. I get paid very little for what I do but I have been binge watching these videos and plan on saving a little more for a first time property so it can have the snowball affect and I can buy many more. This is THE turning point of my life and I am so ready.
The greatest part about this video is not the info you shared, its not that you can achieve anything in 90 days or less or anything that can profit anyone. It is the fact that you actually sit and take the time to do what you do to help others get where they want or need to be. And thats priceless. Thanks Bran. Keep doing what you do.
Brandon, thanks for the knowledge and enlightenment here. I lost my mom during the pandemic and her last wish for me to become a millionaire and get out out our lower middle class life, possibly help kids with healthcare in India. I was figuring out how to become successful and i came across this video, and i feel I’m already excited and confident to give my all into this and shine. Im grateful to you and looking forward to meet amazingly inspiring people in this community. Happy Holidays and good luck my friends
I'm obsessed with RE Investing. Scared to death and don't really have the answers i need but i am studying constantly and looking to buy my first property
The number one way to overcome your concerns and apprehensions is to continue learning studying like you are. Back before i got started it seemed like a daunting endeavor and one that could have huge costs if i failed or had a misstep. But continuing to learn and work towards understanding the ins and out of investing allowed me to overcome most of my fears because i learned the answers and solutions to what concerned me. Now my biggest concern is that i can't buy enough fast enough or find a deal with the exact spread i'm looking for. You will get there too one day. My first video on my channel was me talking about wanting rentals and unsure of how i would do it. Now 3 years later i'm up to 4 rentals and 5 units making a bunch of money and trying to get to 10! keep after it you stud.
I know a broker who gave me a good signal and I just laugh and wave it off to my own peril lol cos that signal gave my friend some pretty good million and the only reason I didn’t take it seriously was simply cos it was a free info so I never took it real lol that was one of my biggest lost till date
You forgot another low or no money down strategy, especially for younger people. 1st time home buyer - 3% down and get roommates to pay rent - so they pay your mortgage. But thank you for sharing all your wonderful knowledge.
great title btw, the "in less than 90 days" caught my attention more than anything bc I am looking to purchase my first mobile home in LA somewhat soon. Thank u for the most informative vids about real estate here on youtube
My niche is buy and hold single family in a super cheap area. In central Georgia, I have bought 4 houses for $63,000, 98, 44, and $18,500. Cash flow average $190. Next strategy is to convert and expand the detached garage on one property to a 1-bed living unit. Intend to pay cash, about 20,000 projected rent 500.
@@chadschulman2954 I just closed on the 3rd & 4th last week so need to go down there and get them opened. After that, planning, zoning meetings, blueprints, contractors, etc will take a few months, but hope to begin in about September
Eddie if you think this is great you need to read the book investing with no money or no money let's get it I feel like this guy is going to change my life
Thank you! 😊 I took notes. I am one of those people who does crossfit lol and my plan is to apply the same consistency, perseverance, determination, courage, patience I apply in Crossfit (it takes a lot)
I'm currently doing the brrr method. When it comes to refinancing your mortgage will go up. My payment went from $850 to $1,800 a month. Cash out was $130k. Going to use it to fix n flipp a small cabin in San Bernardino California mountains. Great video Brandon!
Brandon Turner, David Greene, and BiggerPockets inspired me to build my real estate portfolio. They have motivated me to make financial and investing videos to teach people what I have learned along the way.
Dayton Ohio representing I just wanted to say I have been working on my construction company to make money to invest more I'm already a real estate investor and I am struggling in this current market but you guys have made me get ready to make that next push thanks guys and you guys are really funny keep it up
I was saving to buy my 1st rental this year, I own 1 single family now where I rent out 2 of the 3 rooms and save all the rent for the next house.. Right as I put in a few offeres for a new place, I had a sweet pipe burst that is now costing my about 20k...(goodbye down payment) Well I guess I’ll save for another 6 months and hope that I don’t have another major repair.
Yea I don’t want to take student loans out for her, so it’s all been cash. I also max out my IRA every month and invest another 10k into a personal brokerage. Then I save rent /15% of my income for rental properties. The market is wild, in my area, so I’m not in a hurry persay. But I have a preapproval and pre under written up to a 350k So I’m just looking for that awesome deal , but I’m looking for something good by the numbers and those are not easy to find. But yes I’m looking hard everyday and keeping an open mind.
I think a big part of becoming accomplished in anything is the switch from short term gratification to long term gratification, by changing small habits that are easy to change, doing the things you know you should be doing, when you need to do them. Adding just one good habit at a day and building upon that mindset, we can become just as addicted to achieving our long term goals as we were to trading them for our short term gratification.
I really needed to hear this video. I live in Boston MA and the market here is just super expensive. But, have to keep pushing to find something. Looking in the outskirts of the city now. Aiming to close my first deal.
This is great info. I would like to share my personal "Hurdles" or basically what I want 100% in order before I make my first purchase. : 1. Payments. What program do we use to collect payment? 2. Bookkeeping. Ties into 1. I would like to see way that this is simplified. 3. Paper work. Not 100% on everything needed and would like insights on that. I would like to have all form in order, for best to worst case. Example 10k units and I have 10k ready to rent renters, to eviction being starting and handed super-fast. 4. Lawyers. Ties into step 3. Best way people found them? Would like a lawyer to not only look at my lease but to be to standby for evictions. 5. LLC. This is a work in progress but I will have this set up
@@chadschulman2954 since I was 12 yrs old brother I'm 30 now. Real estate was something I was always interested in. I had to educate myself properly to truly see the fruit
What do i do when there are many houses up for rent how do i compete vs everyone else. Thats always been my fear. The fear of not being able to rent a house out and it just eating away at my savings paying 2 mortgages
Multi family Starting with a 203k loan rehabbing a duplex to create immediate equity in order to to immediately refinance heloc into my next property !
Please share your thoughts on this. My tenant wants to put an above ground swimming pool in the back yard of my rental. It will kill the yard, and I'm concerned about the liability. Thoughts?
You are the property owner. Simply tell them it is not permitted. Your liability concerns are valid. Additionally; you will likely be stuck with the hassle and expense of disposing of the pool when they move out. No upside for you in allowing the pool.
yes it is an actual business. after around 5 properties which is right where i'm at right now, you need to form an LLC for your own protection and to make sure that your assets are safe from some crazy attorney looking to sue you. As you gain more rentals, it takes more time to manage them and handle the repairs and showings and all of that. Sure you can have a property manager do that but usually you still play an active role in what you are doing especially if you are in the acquisition stage and trying to get more properties. my main job i'm a police officer from 9-5. But in my spare time i study, research and work real estate to try to go from where i'm at with 4 rentals to 10.
Why people won’t take action? The complexity and amount of details, numbers and risks. People wanted sureness, and investing is full of uncertainties and ball of hard works. People are afraid of failure and being ripped off
I started watching bigger pockets about a few months ago I’m a real estate agent for California everything seems to be too high to buy what are good states and cities you recommend to consider for my first Four Plex
I’m just closing on my first property already going into with ten grand equity haven’t even touched the place looking to paint and floors prolly finish basement than reappraise and see if I can refinance and take the additional money and buy me a three family with possibly basement and attic that can be fixed for more rent
Hi everyone. Well I have a tough question. I m from Canada and my real estate/construction company is here in Mexico. What is the best way to ask for financing to my Canadian relatives that I haven t seen in over 40 years?
any videos on financing tax and strategy? lets say you have $350,000 in trapped equity and want to buy your first rental for $125,000. is it smarter to refi for 50K so you have a down payment. is it smarter to refi the total 125K and buy cash? tax benefits on having 2 loans? you will never get the same interest on the rental home you have on your first.
i wouldn't recommend buying any of your properties with all cash. That locks up a lot of capital that you could use to buy other rentals. I would say do a cash out refi on your trapped equity and then put 20% to 30% down on whatever you are looking at purchasing making sure that the rents cover the mortgage, taxes insurance, vacancies and maintenance and some left over for profit. you can deduct the interest you pay on your rentals for your taxes as well as repairs and management costs. I did a tax video on my duplex last year. I filed for extension this year otherwise i'll be doing a tax video on my having 3 rentals out of state and how that affected my taxes. just waiting for my CPA to get back to me with the info.
@@MillennialMike theirs a real answer. Everyone says " plus the tax breaks" but no one says what they are! The tax breaks are deduction on interest paid on the loan. That makes sense. Thanks
Yes! The house will just need to be in good condition or the seller will need to agree to any repairs an FHA appraiser requires even if you don’t personally ask for repairs.
Alright. Challenge Accepted. I got started educating myself recently, never bought a property and come from a poorer background. Ill be back to give you an update.
@@MillennialMike Right now in my area houses are selling so high that I wouldn’t be able to get any cash flow. I am just stacking paper and waiting for the crash.
